Severn Trent shareholders to get vote on climate change plan

(Alliance News) - Water company Severn Trent PLC on Wednesday outlined a sustainability plan ...

Alliance News 24 March, 2021 | 9:16AM
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(Alliance News) - Water company Severn Trent PLC on Wednesday outlined a sustainability plan which includes using 100% renewable and all-electric vehicle fleet by 2030.

The plans will be put to shareholder at July 8's annual general meeting.

"In recent years Severn Trent has increasingly considered how we can both mitigate our own impact on climate change and adapt to the challenges we face in bringing the sustainable provision of services to our customers. We believe it is important that shareholders have the opportunity to engage with the plans we have developed," Severn Trent said.

Back in March of last year, Severn earmarked GBP1.2 billion of investment in "environmental initiatives". This included planting 1.3 million trees.

"In January 2021, we submitted several project proposals to Ofwat to invest hundreds of millions of pounds as part of the Green Recovery initiative which, if approved, would enable us to deliver new low carbon water sources, create thousands of new jobs and enhance river quality and flood resilience in our region," the company added.

"This week, we submitted our proposed scope 1, 2 and 3 emissions targets to the Science Based Targets Initiative, committing us to deliver significant reductions in our greenhouse gas emissions by 2030."

Severn added that it will now report on its annual results on May 19, a week earlier than initially planned.

Shares in the company were 0.8% lower at 2,277.00 pence each in London on Wednesday morning.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Severn Trent PLC 2,823.00 GBX 0.04 -

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